(CercleFinance.com) – Stifel maintains its ‘buy’ recommendation on Volkswagen shares, with an unchanged price target of 308 euros.
The analyst says the slow start of electric vehicle sales in China was ‘a major concern’ in 2021. The automaker managed to reassure, saying the problem was not with the product but rather with the way it was made present. Not to mention the global shortage of semiconductors…
Stifel reports that Volkswagen plans to double sales of its ID range in China in 2022. Without supply chain concerns, sales should be between 160,000 and 200,000 units, according to the manufacturer.
For this, the manufacturer can rely on a solid network of dealers and on new points of sale for ID models. In this context, “we believe that VW has built a solid foundation for the commercial success of its electric models in China”, concludes the broker.
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